Measure F -- Issue Bonds to Fund Improvements to College Facilities
Lake Tahoe Community College District
Bond Measure - 55% Approval Required
To upgrade college facilities that prepare local students for jobs and university transfer by modernizing academic and job-training classrooms, science labs, and facilities, expanding access to university courses, creating a Public Safety Training Center, modernizing technology, improving safety and energy efficiency, and improving facilities, sites and equipment, shall Lake Tahoe Community College District issue $55,000,000 in bonds, at legal rates, with independent oversight, annual audits, no money for administrators' salaries, and all funds dedicated to Lake Tahoe Community College?
Impartial Analysis from El Dorado County Counsel
Upon approval of 55% of the votes cast by voters on this measure, California law permits community college districts to issue the sale of general obligation bonds to be paid by ad valorem taxes placed on property within the district for the purpose of construction, reconstruction, rehabilitation, or replacement of school facilities, including the furnishing and equipping of school facilities, or the acquisition or lease of real property for school facilities.
The Board of Trustees of the Lake Tahoe Community College District (District) proposes issuing bonds in the amount of $55 million. The bonds interest rate and maturity date will not exceed the legal maximum, with a maturity date up to 40 years. Bond proceeds would be used to upgrade college facilities that prepare local students for jobs and university transfer by modernizing academic and job training classrooms, science labs, and facilities, expanding access to university courses, creating a Public Safety Training Center, modernizing technology, improving safety and energy efficiency, facilities, sites and equipment.
Proceeds of the bonds would not be used for teacher and administrator salaries or other school operating expenses. The District would conduct performance and financial audits, and appoint an independent citizens' oversight committee to ensure bond proceeds are expended as specified.
The District's best estimate of the tax rate to be levied to fund the bond issue is $25 per $100,000 of assessed valuation during the first fiscal year after the sale of the first series of bonds and $25 per $100,000 during the first fiscal year after the sale of the last series of bonds.
The District's best estimate of the highest tax rate required to be levied to fund the bond issue is $25 per $100,000 per fiscal year of assessed valuation and the amount of tax levied may be higher than the estimate if funds due for the payment of interest and principal on the bonds exceeds the best estimate of the tax rate to be levied.
The Board of Trustees of the Lake Tahoe Community College District has ordered this election. The measure requires the District to take steps to account for the use of the proceeds from the sale of the bonds as set forth in Article XIIIA Section 1(b) (3) of the California Constitution and Education Code section 15264 et. seq. The Board of Trustees will appoint a citizens' oversight committee and conduct annual independent audits to assure that funds are spent only for the purposes included in this measure. A "yes" vote is a vote to authorize the issuance and sale of the bonds in the amount not to exceed $55 million to be secured by the levy of ad valorem taxes on property located within the District.
A "no" vote is a vote not to authorize the issuance and sale of the bonds in the amount of not to exceed $55 million to be secured by the levy of ad valorem taxes on property located within the District.
Arguments For Measure F
For 40 years Lake Tahoe Community College has been a valuable community resource, providing generations of local residents access to an affordable high quality college education to prepare for transfer to 4-year universities, train for better careers, or enrich their lives as lifelong learners.
The College's outstanding reputation has attracted constant use of campus facilities. But after 25 years in its current location, the campus has grown outdated and become costly to operate, with leaky roofs and deteriorated electrical, lighting, heating, ventilation, safety and security systems. Inadequate college classrooms, labs, and technology are now limiting instructional quality, learning, job training, and career advancement.
Measure F will authorize essential funding to modernize Lake Tahoe Community College so it can provide the high quality college classes that students now need and the job market demands.
Measure F will:
Modernize college classrooms, labs and student support spaces
Increase access to university level courses on the LTCC campus
Upgrade and expand college technology
Construct high-demand job training facilities, including a Public Safety Training Center
Repair or replace deteriorated roofs, electrical, plumbing, and mechanical systems
Improve energy efficiency, campus safety and security, and access for disabled students
Protect the natural character of the campus, including scenic views and open space
Measure F REQUIRES strict accountability. NO administrator salaries are allowed.
MANDATORY audits and Independent Citizens' Oversight ensure proper spending.
By law, ALL Measure F funds benefit our local Lake Tahoe Community College and students.
As facilities are improved, our local economy will get a needed boost. The longer we wait to make these improvements, the more expensive they will be.
Many LTCC students, faculty, alumni, business and community leaders, and citizens throughout our community URGE your support.
Help Lake Tahoe academic and job training college facilities remain strong.
Please VOTE YES on Measure F.
Alicia Agnew, Lake Tahoe Community College Graduate, 2014 Paul Rork, M.D., Family Practice Physican Sara Pierce, LTCC Instructor, Faculty Leader & Lifelong Resident John Rice, General Manager, Sierra at Tahoe Resort Roberta Mason, Founding LTCC Board Member, 57-year Resident